Data is tremendously valuable asset, and also businesses are creating more opportunities out of it, faster than ever before. The recent past saw an explosion of analytics technology as businesses demanded tools to unlock insights from their vast and growing sets of data.
“The volume of data created to meet the requirements has exploded in recent years. This has coincided with the rapid pace of innovation in the information technology.”
D V Seshu Kumar
Asst Vice President – IT Head
The challenge for businesses is no longer just capturing data; it is putting that data to effective use. Data analysis is a key to understanding the performance of a business and can be used for numerous tasks. A business’ success absolutely depends on insight into the key factors that affect it, in as close to real-time as possible. Analysing performance based on real time data, consolidated views of operations and respond proactively, troubleshooting and gaining business opportunities. Data is the core of technology driven world.
It is probable that there will be an increase in taking advantage of object storage for structured data and it is going to be that object storage may create structured data from unstructured data. Metadata is going to be used to dig out from the avalanche of generated data by different methods of analysis, and data explosion is at the centre of our technology-driven world. Experiencing and expected to generate vast amount of disparate data in the form of transactions, structure data, and a myriad of content includes visuals and videos etc. In order to be useful, this data needs to be stored, catalogued and analysed, and this process has begun to generate innovative ways of analysis and using this data, through Artificial intelligence, Machine and Deep Learning and Augmented Reality. The volume of data is flipping the economic formula. Companies are exploring new economically-friendly storage systems. Storage prices that once seemed negligible are now looking like less of a bargain since the amount of data stored is so enormous.
Data is tremendously valuable asset, and also businesses opportunities are creating more of it, faster than ever before. The recent past saw an explosion of analytics technology as businesses demanded tools to unlock insights from their vast and growing sets of data. Now that those tools are available, the pendulum will swing back to the demand side of the equation and force businesses to pay more attention to collection, management and storage of that increasingly valuable data. This is forcing that businesses must invest in new strategies for safeguarding and protecting data and at the same time storage of data in an economically feasible way and should also meet the corporate IT policies. Data policies can define the durability, cost, availability, and other dynamic optimization criteria.
In spite of the numerous benefits that can be gained in large data set, big data demands for storage and processing poses a major challenge. Analysis says that total size of data that will be generated by 2020, is expected to reach 35 ZB. It is clear that big data has outgrown its current infrastructure, and pushes the limit on storage capacity and storage network. Existing traditional techniques cannot support and perform
This is the digital era. Analysis says it is growing 40% a year into the next decade, expanding to include not only the increasing number of people and enterprises doing everything online, but also all the smart devices etc., connected to the Internet, unleashing a new wave of opportunities for businesses and people around the world. According to the IDC (International Data Corporation) the volume of information stored on electronic media doubles every 18 months.
Online marketing, ecommerce and payment gateways, has resulted in rapid market growth in terms of cloud services, in an unprecedented manner. The cloud Infrastructure as a Service (IaaS) platforms have created an efficient and scalable way for organisations to procure compute and storage capacity, and achieve desired results by using sophisticated technology solutions available. These technologies are being adopted in cloud or hybrid cloud platforms. Organizations can tailor the platforms and applications to suit their particular business and operational requirements and goals. Organizations can focus on their core expertise, and expand business models. This will help Organizations to create new competitive advantages that generate value in the business.
Cloud players are optimised scalable solutions providing IaaS offerings in Public, Private or Hybrid environments. Organizations can leverage these offerings for specific applications and retain their own environments for primary applications thereby achieving scale instantly or in a scheduled fashion, as the demand for their products and services or scale within the required parameters. Cloud players are also offering solutions to challenges it created, Virtualization, Deduplication and Prioritization (on Demand) are commonly used solutions.
Though cloud is going to be the future, many organizations are still going on the traditional data centres at their locations. This kind of approach is adopting mainly keeping security point of view and also important point is increasing the OPEX. Cloud solutions and third party data centres are having higher end security layers then in-house data centres. Coming to CAPEX vs OPEX, still it depends on the business model which they are in otherwise Capex works out much lesser than OPEX – cloud solutions. Cloud players needs to work on to narrow down the gap between CAPEX and OPEX.
Albert Einstein said, “We can’t solve problems by using the same kind of thinking we used when we created them,” Statement well fit in the current scenario.